The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-08-07
FINANCE AND MINING.
The Top Notch Wool Buyers
Feel Blue.
ORE AND BULLION RECEIPTS
Deseret National Dividend The Nephi
Banks RaGdsome Showing
--MisceIIaneoas.

The week has been without any dis
tinguishing features of trade. Business
is generally dull. asi it usually is during
the hottest period.
The wool market continues to drag
along very sluggishly. Prices keep down
and receipts are light. Buyers who
gave top notch prices during
the first run early in the
season are growing anxious; as,
unless there is a rally in the market.
they will be badly frost bitten. They
are mostly holding on waiting for an
advance. At present it is impossible
for them to pull out even.
One Utah Central bond sold last week
at $500.
The Deseret National Bank declared
its regular quarterly dividend of per
cent. during the week. ~
The First National, at Nephi, COM
pleted its first year on July 31st onAu
gust 1st, the initial dividend was de-
clared of per cent. on the capital
stock tS5o, 000) for the last, half of the
year. Besides this, the J, institn ton
earned 4 per cent during the same
period, and 6 per cent. for the
first half of the ysar, both of
which amounts were carried to
the reserve fund. An earning of ID per
cent on the first year of it's existence
speaks well for the management of the
Nephl institution, and verifies reports
which continually reach US of Nephi's
growing Importance! II r.
Z 6. Dun & Co.'S weekly review of
trade says: Foreign commerce is still
unsatisfactory, while in domestic trade
the usual summer dizziness is increased
by variety of causes. Large bank
clearings and railroad earnings fail to
reflect the present state of business.
which is in many branches character
lied by uncertainty and hesitation.
Clearings represent ~ speculative deal
ings, ~ settlements on business done
from one to four months ago, (3) cur
rent cash transactions: so that activity
in speculation or large payments on
past business often swell clearings when
new legitimate business is decreasing in
volume. Railroad earnings, since the
Interstate law affected rates, afford no
reliable indication of the volume of
traffic, and publication of tonnage stat
islics has been to large extent sus-
pended-Whlch has significance. Low
prices delay movement of wheat, and
injury to corn, hay and minor crops
produces uncertainty. Meanwhile for
eign imports at New York continue
larger than last year, while exports for
four weeks past have been per cent.
smaller, and official reports show an IN
crease of 100000 for June in all i'm
ports. against decrease of nearly S.
O0O,O00 in all exports. For three months
ending with June, the excess of mer-
chandise imports was $44, 133, 1872.
Bradstreet'S says: The leading money
markets, except at Kansas City and
Boston, are easier. At the former
cattle paper is closely scrutiniSed. and
so active is the general demand that the
available supply is declared to be in
adequate. Funds are going to the
country at New Orleans, more freely
atSt. Louis, but apprecia bly, at Chicago. |
Boston banks are accommodating
regular customers only. with rates
high and unchanged. At Philadelphia, |
recent disbursements by railway cor
porations there have tended to ease
losnipg rates. The experts of merchan-
disc, gold and silver, for the year
enueu uue on, 1906 Practlcally equal IN
value the aggregate of imports, whereas
two years ago the exports were about
SOB 600, 900 in excess. The inter
account as to securities bought
and sold, is the missing element in our
export and import totals.
Co op. stock is still coquetting around
S106 and $107. A small block was
offered at the latter figure, but this
week $106 is the best bid obtainable.
PROVO stock is offered $50.